Alleged $101m Debt: Court Adjourns Further Hearing Of Bankruptcy Suit Against ABC Orjiakor
For an umpteenth time, Justice Deinde Dipeolu of a Federal High Court, Lagos, has adjourned further hearing of the bankruptcy suit filed against Dr. Ambrose Bryant C. Orjiakor, to September 22 and October 2, 2025 for the adoption of terms of settlement.
Joined as dr. Orjiakor’s co-defendants in the suit marked FHC/L/BK/08/2023, are; Seplat Energy Plc; Helko Nigeria Limited; Neimeth International Pharmaceuticals Plc; Salvic Petroleum Resources Limited; Zebbra Energy Limited; Ordrec Group Limited; Helko Marine Services Limited; Berwick Nigeria Limited; Abbeycourt Petroleum Company Limited; Abbeycourt Energy Services Limited; Abbeycourt Company Limited and Pursley Resources Limited.
At the hearing of the matter today, A. B. Ogunba (SAN) led the team on behalf of the creditor. While Adeyinka Abdulsalam represented the judgement debtor, Dr. Orjiakor, Opeyemi Adekoya held the brief of Bode Olanipekun (SAN) and also announced the appearance of Raymond Nkanembe, Mariam Oyede, and Ayomide Ajayi for the 1st respondent.
Toheeb Ipaye appeared for the second to fifth and seventh to 12th respondents. while Amos Ubale appeared for Asset Management Corporation of Nigeria (AMCON), T. S. Awoyemi for Keystone bank, Babatunde Olanipekun led the team for Zenith bank Plc and Benjamin Nwafor announced his appearance for Providus Bank (the party seeking to be joined in the suit).
At the day’s proceedings, the AMCON’s counsel informed the court that the first respondent had filed an application. Adding that the settlement meetings have been held and terms agreed.
He however, informed the court that there is a disagreement concerning OML 180 (an oil mill) which is delaying the finalization of settlement.
He therefore asked the court for adjournment, to enable parties finalized the agreement.
Responding, Access Bank’s lawyer, Ogunba (SAN) did not object but aligned with the submission of the AMCON’s counsel. In the same vein, Providus bank’s counsel equally agreed to the submission.
But Babatunde Olanipekun, the Zenith Bank’s counsel raised an objection regarding the sum of N20 million, proposed in the settlement terms. He informed that it was unacceptable due to his client (Zenith Bank) exposure.
He informed the court that his client, will formally communicate with AMCON.
Midway to the grocery, Bode Olanipekun (SAN) upon arrival to the court, apologized for his lateness. And urged the court to strike out his client’s name from the suit.
In urging the court to strike out his client’s name, Olanipekun (SAN) argued that the first respondent had no direct involvement based on the submissions made today.
Olanipekun (SAN) while citing a decision of the court of appeal in support of his position, asserted that the first respondent has no obligation to pay the alleged loan.
In his submission, Ogunba (SAN) informed the court that he has not been served with the said application. .
He also argued that the first respondent is the largest shareholder and remains relevant to the proceedings and should not be excluded.
In his submission, Keystone bank’s counsel, Awoyemi urged the court to discharge his client, (Keystone bank) from the suit, on the ground that the alleged debtor did not maintain an account with the bank or have funds in its custody.
Following all the submissions made by the parties, the court adjourned the matter to September 22, 2025 and 2nd October 2025 for the adoption of terms of settlement.